What is the easiest way to sell your home?

June 5, 2018

In Part 1, we looked at the factors to consider when pricing your house for sale. Now that you know what your house will sell for, it’s time to decide how to sell it!

Part 2: Exploring Different Methods to Sell Your Home

1. Listing with a real estate agent

As a homeowner, your first option is to work with a licensed real estate professional like a Realtor to sell your house. A real estate professional brings plenty to the table.

Pros: Expertise and resources

Realtors have the ability to list your house on a Multiple Listing Service (MLS), where your house will gain exposure to a wide network of potential buyers represented by other agents. Most Realtors also work with quite a few clients each year, so they are experienced in marketing homes for sale.

Cons: Costs and time

However, their expertise and resources come at considerable cost, and don’t necessarily provide certainty of a sale. Realtors charge a commission on the sale price of the home that averages 5% of your home’s value (varies a little in each city), with the listing agent and buyer’s agent splitting the commission. In addition to commissions, other costs to consider when listing with an agent include the costs to get your home sale-ready like repairs (often $2,500+), cleaning and staging (typically $3,000+), legal fees, inspection costs, any applicable taxes, and any seller concessions. If your current home doesn’t sell before you close on your new home, you may need to incur the costs of owning two homes (overlapping mortgages, etc.).

In Part 3 of this series, we will further explore what the selling process will look like if you do choose to sell your home through a realtor.

2. Selling Privately

Another option you can consider is selling privately.

Pros: No commissions

Private sales have one major benefit: there are no commissions!

Cons: A lot of work, and no guarantee of sale

As a private seller, you will typically reach fewer potential buyers than you would if listing with an agent, which often means that you home will sell for a lower price and will take longer to sell. It also requires a lot more time and effort on your part since the onus of preparing your house for sale and prospecting buyers falls on you. Usually, private sellers resort to advertising their house using word-of-mouth, DIY lawn signs, using services like ComFree or Property Guys, and listing through online marketplaces like Kijiji and Craigslist. Other tasks, such as booking showings with interested buyers and negotiating terms when closing the sale, also become your responsibility. As most homeowners have little to no prior experience selling homes, there is a lot of room for error.

3. Direct Home Buyers

The final option, which many sellers are unaware of, is selling to a direct home buying company. These smart services have emerged over the last few years and enable sellers to bypass the traditional home selling process. While services like this are more common in the United States, the good news is that Properly has recently launched in Calgary and is providing Canadians with a hassle-free home buying and selling experience.

Properly uses data and advanced analytics to determine the fair-market value for your house and will provide you with a free, no obligation offer. Upon receiving the offer, you can close a sale and receive your payment on your schedule (and in as few as five days). Properly has a service charge similar to the cost of selling your home with a Realtor in exchange for the added convenience of a quick, guaranteed sale. Properly also allows you to avoid the hassle of getting your home sale-ready, managing endless showings, and waiting months to find a buyer. Properly also has a world-class customer support team that will guide you through the process and make your move seamless.

Part 3 of this series will explore how you can get your house sale-ready. As highlighted in this post, if you opt to sell directly to a home buying service like Properly, there is no preparation required, which can save considerable time and expense. But if you do opt to sell privately or with a Realtor, be sure to check out our tips on renovations, maintenance and staging.